Michael Novogratz's Galaxy And Invesco File To Launch Solana ETF: What You Should Know About QSOL

Benzinga·06/26/2025 01:38:08

Listen to the news

Asset management giant Invesco filed for a cryptocurrency exchange-traded fund focused on Solana (CRYPTO: SOL) on Wednesday, expanding its offerings beyond Bitcoin (CRYPTO: BTC).

What Happened: The proposed Invesco Galaxy Solana ETF, filed in collaboration with the Michael Novogratz-founded firm Galaxy Digital Inc. (NASDAQ:GLXY), is slated to be listed on the Cboe BZX exchange under the ticker “QSOL,” according to an S-1 filing with the SEC.

Bank of New York Mellon Corp. (NYSE:BK) has been appointed as the administrator and cash custodian of the ETF, while Coinbase Global Inc. (NASDAQ:COIN) will be responsible for holding all of the trust’s SOL.

Earlier this month, several companies seeking to launch Solana ETFs updated their filings with the SEC to address the regulator’s queries, according to Reuters. Bloomberg analyst James Seyffart suggested that the SEC "may act early" on spot Solana ETFs.

Invesco and Galaxy Digital already operate the Invesco Galaxy Bitcoin ETF (BATS:BTCO). Check out Benzinga Edge Stock Rankings for the latest figures on its momentum and growth metrics, as well as how it compares to other Bitcoin ETFs.

Price Action: At the time of writing, SOL traded at $144.21, down 1.18%% in the last 24 hours, according to data from Benzinga Pro.

Read Next:

Solana Treasury Firms Get Cantor Vote Of Confidence: ‘We Expect Developer Growth To Continue’

Photo Courtesy: alfernec on Shutterstock.com

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

FAQ

Fee Schedule Open Account Deposit & Withdrawal Trading

Terms & Conditions

Client Agreement Privacy Policy Data Disclaimer Security Tips

About Webull

About us Webull Promotions Contact information Announcements

Service Email : service@webull.hkBusiness Cooperation : marketinghk@webull.hk

Risk Disclosure: The content of this page is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial circumstances. All investments involve risk and the past performance of securities, or financial products does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing. For more details, please refer to risk disclosure.
① During the campaign period, US stocks, US stocks short selling, US stock options, Hong Kong stocks, and A-shares trading will maintain at $0 commission, and no subscription/redemption fees for mutual fund transactions. $0 fee offer has a time limit, until further notice. For more information, please visit: https://www.webull.hk/pricing
Webull Securities Limited is licensed with the Securities and Futures Commission of Hong Kong (CE No. BNG700) for carrying out Type 1 License for Dealing in Securities, Type 2 License for Dealing in Futures Contracts and Type 4 License for Advising on Securities.

Language

English